Commodity
Molybdenum
Molybdenum makes steel harder and more resistant to heat and corrosion. Demand tracks heavy industry, energy infrastructure and pipelines rather than consumer goods.
Price
Annual reference price
2025, estimated
Molybdic oxide, 57% molybdenum, US
Not a live price. Annual average, published once a year. Use it for scale and direction, not as today's price.
| Year | Price, USD/kg | Against the highest year shown |
|---|---|---|
| 2021 | 35.62 | |
| 2022 | 41.72 | |
| 2023 | 54.32 | |
| 2024 | 47.72 | |
| 2025e | 51.00 |
Source: U.S. Geological Survey, Mineral Commodity Summaries 2026, from Argus Non-Ferrous Markets assessments. Checked 13 September 2026.
What it is used for
- Alloy and stainless steels
- Catalysts in oil refining
- High-temperature lubricants
- Superalloys
Supply
Roughly half comes as a by-product of porphyry copper mining, so supply responds to the copper price as much as to its own.
Principal producing countries: China, Chile, United States, Peru, Mexico.
Producer list from United States Geological Survey, Mineral Commodity Summaries, checked 10 September 2026.